glencorevenezuela

📊 What Bloomberg put on the table
Glencore, Peabody Energy, and the investment firm Heeney Capital are considering moving aggressively into Venezuelan coal production. According to Bloomberg, Glencore and Peabody are moving together on a possible offer for assets located in the Zulia state, while Heeney prepares its own move alongside Drummond Co., the Alabama-based miner. None of the companies wanted to expand on details, and everything is based on sources close to the talks.

The names sound like trading rooms in Geneva and London, but the deal lands directly in the pocket of whoever exchanges USDT for bolívares in Puerto Ordaz, Maracaibo, or Caracas. Bloomberg revealed that **Mercuria Energy Group and Glencore** are holding separate talks with the Executive Branch to get into the operation of **Venalum**, the country’s largest aluminum smelter, located in the industrial hub of Puerto Ordaz, Bolívar state.
Venalum, controlled by the State, once had installed capacity of about **430,000 metric tons per year of primary aluminum**. Today it produces only a fraction of that, battered by years without investment, power outages, grid failures, and an industrial decline that has already lasted more than a decade. The fact that two of the world’s biggest commodity traders sit down at the table is no small matter.